GoodReturns
Archive - 2003
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June 2003
11 Jun 2003 Magic words
10 Jun 2003 Red lights flashing
09 Jun 2003 A property price bubble
09 Jun 2003 Market Review: Can the joint rally in shares and bonds continue?
09 Jun 2003 Housing market slows gradually: economist
09 Jun 2003 Little evidence that Super Fund affecting savings plans
09 Jun 2003 New ceo at Calan
08 Jun 2003 News Round Up
08 Jun 2003 SAVINGS: Policy Issues and options
05 Jun 2003 Young people money worriers
05 Jun 2003 Reserve Bank delivers rate cut as expected
05 Jun 2003 Dumb time to close fund management business
05 Jun 2003 Reserve Bank treads softly
05 Jun 2003 Reserve Bank delivers rate cut as expected
05 Jun 2003 Two "new" companies born
04 Jun 2003 Some investors may have to pay BT
04 Jun 2003 Wesfarmers negotiating to buy Lumely
02 Jun 2003 Gov't Protects Deadbeats' Privacy
02 Jun 2003 Investing in property
02 Jun 2003 One pub, one shop and a housing boom
02 Jun 2003 Doubts and housing point to interest cut
02 Jun 2003 Craze for house auctions sets clean-up code on way
02 Jun 2003 Home truths
02 Jun 2003 To err is human, to forgive is divine
02 Jun 2003 Rate cut coming - but how big?
02 Jun 2003 News Round Up
May 2003
30 May 2003 Yield adds value for managers
29 May 2003 Lumely sale due soon
29 May 2003 NZ First roadblock removed
29 May 2003 HSBC has five year distribution deal with AMP
28 May 2003 GPG closes in on Tower
28 May 2003 Edinburgh looking at its options
27 May 2003 When did Aucklands Property Boom really begin?
27 May 2003 Govt announces building law changes
27 May 2003 Even more evidence of the boom
27 May 2003 Tower soothes clients
26 May 2003 Even more evidence of the boom
26 May 2003 Save or sink
26 May 2003 Plans to help Govt write savings policy
26 May 2003 What is Saving New Zealand?
26 May 2003 Plans to help Govt write savings policy
25 May 2003 Saving in New Zealand – some background facts
25 May 2003 Buying and investment property
23 May 2003 Slowdown - what slowdown?
23 May 2003 Council to sell about 70pc of its leasehold land
23 May 2003 The Property (Relationships) Act
23 May 2003 New records for residential real estate market
23 May 2003 Slowdown - what slowdown?
23 May 2003 Australian Treasurer may lobby Govt
22 May 2003 2003 Fidelity Life Roadshow
22 May 2003 New Government Actuary
22 May 2003 Edinburgh admits it has problems with funds
21 May 2003 2003 Fidelity Life Roadshow
21 May 2003 Retirement Commissioner gets more money
21 May 2003 NZ Superannuation Fund announces key adviser
20 May 2003 Perry at AMP
20 May 2003 Retirement Commissioner gets more money
20 May 2003 2003 Fidelity Life Roadshow
20 May 2003 2003 Fidelity Life Roadshow
20 May 2003 Rent-to-buy couple compensated
20 May 2003 Top houses still selling quickly
19 May 2003 Deep green fund manager emerges
19 May 2003 AMP encourages Kiwis' appetite for property
19 May 2003 Westpac chief economist
19 May 2003 The Liontamers come to town
18 May 2003 Lenders more than just tweaking their rates
17 May 2003 Interest rates likely to fall
16 May 2003 Innovative and sophisticated products available to NZ investors
16 May 2003 Alternative funds available in NZ
16 May 2003 It's better to be first
16 May 2003 Researching the Researchers
16 May 2003 A significant budget for super: Cullen
15 May 2003 Super fund is the cornerstone
15 May 2003 2003 Fidelity Life Roadshow
15 May 2003 Budget 2003
15 May 2003 2003 Fidelity Life Roadshow
15 May 2003 S&P cuts AMP's rating
15 May 2003 Budget expectations low
15 May 2003 Super fund is the cornerstone
14 May 2003 Property Pack Auckland are mortgage people
14 May 2003 Spicers' Quarterly Strategy Paper
14 May 2003 Promina charts a new course
14 May 2003 ACC's ethical investment process attacked
14 May 2003 Two familiar names join Tower
14 May 2003 St Laurence takes its first steps
13 May 2003 Wellington Residential Report
13 May 2003 Safe as houses
13 May 2003 Did the RBNZ get it wrong?
13 May 2003 March housing consents hit a 26-year high
13 May 2003 2003 Fidelity Life Roadshow
13 May 2003 2003 Fidelity Life Roadshow
13 May 2003 Breakthrough in super schemes impasse imminent
13 May 2003 Did the RBNZ get it wrong?
13 May 2003 Break through in super schemes impasse imminent
12 May 2003 Promina price positive
11 May 2003 United proposes tax rebate for savings schemes
11 May 2003 Donald continues his attack on intl shares
09 May 2003 Mystery bidder forced to up price
08 May 2003 Minister hi-jacks summit
08 May 2003 McEwan makes ASB Group Investment appointments
Latest News
Advice adds at least 5% a year, but clients can’t see most of it
Advice adds at least 5% a year, but clients can’t see most of it
4 min read
Adviser use of ETFs likely to continue to grow, Smart says
Adviser use of ETFs likely to continue to grow, Smart says
2 min read
FMA outlines its latest expectations for advisers
FMA outlines its latest expectations for advisers
6 min read
[Weekly Wrap] KiwiSaver in play; but outcome unclear
[Weekly Wrap] KiwiSaver in play; but outcome unclear
2 min read
Latest Comments
FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
3 days ago Steve Wright
FMA outlines its latest expectations for advisers
Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
3 days ago Backstage
FMA outlines its latest expectations for advisers
All things said are great aspirational goals for a great financial advice industry, it mirrors what both the legislation and the code requires. However, like most things discussed it talks about what's expected not how it's done. The hardest aspect of financial advice today isn't what it is, it is how it is done. The how only comes from those that have done it, the how is only provided with examples. Guidance documents that spell out what's required along side how it it done. We’re still dealing with the same issues we started with in 2021, figuring out the how. And figuring out the how in every advice business is consuming resources that could easily be shortcut by the FMA demonstrating what they are expecting. It's not about “do it this way” its about this is the sorts of things we’re looking for. In the absence of standards and expectations, guesswork prevails. That represents significant risk to FAPs and the result is onerous overcooked advice processes for multiple advice operations and undercooked she’ll be right for single operators focused on getting the work done. Both approaches have potential for harm and as its been said earlier, leaves advisers open to explain they haven't been speeding with the authorities have pulled them over. The advice industry needs guidance on the how we know the what already.
5 days ago Jon-Paul Hale
Who is responsible for notifying policy changes?
Sticking an oar in, while we have “service” requirements the expectation that an adviser is responsible for discussing said change is relying heavily on assumption. 1. That the client hasn't moved and contact details haven't been updated. It happens more often than many think. 2. It assumes there is a servicing agreement in place to provide service. Remember the requirement is to scope service not provide it. A client deciding to have ad-hoc service on their request is a legally valid position to have. 3. If there is a service agreement that's realistic to what is expected, how long does the adviser push the issue to have the discussion before moving on with everything else they have to do? Again, a point that is not clear in the guidance to date. The challenge of the present rules is the adviser is responsible for ensuring the client understands the advice provided. How do you ensure you're covering this if a client doesn't engage despite genuine attempts to manage it? There's still a lot of “what if’s” in this whole are we’re only going to have clarity on once someone is taken to task about it. But first we need to have clarity on what ongoing service actually is, because right now demonstrated by the direct providers a letter once per year with a please call if you want to discuss is the current minimum…
5 days ago Jon-Paul Hale
FMA outlines its latest expectations for advisers
To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
5 days ago Paul Flood